Gov. Jon Corzine is far outspending challenger Chris Christie

TRENTON -- Gov. Jon Corzine has dug into his own pocket to pay the lion’s share of a nearly $17 million campaign push that has helped him rebound in the polls against Republican Chris Christie.

Campaign finance reports released today show Corzine, a wealthy former Wall Street executive, so far has raised $16.8 million — $15.6 million coming out of his own pocket, despite his well-publicized efforts to get donors to help pay for his tough re-election campaign.

David Bergeland/For The Star-LedgerGovernor Jon Corzine at a Labor Day event in Rutherford. Corzine is far outspending his gubernatorial opponents.

Christie, who is using public financing to pay for his campaign, has brought in $9.6 million, including $5.8 million in matching funds from state coffers. Independent candidate Chris Daggett, who is also receiving public financing, spent $954,668, the latest reports show.

Corzine spokesman Sean Darcy, in response to questions about the level of campaign spending, said only that "Governor Corzine will have more than enough resources to get his message out for election day."

The Democrat, who burned through nearly $40 million of his own money to become governor four years ago, had expected to raise far more from supporters this time around. As the 2009 campaign opened, Corzine was telling friends he was hoping not to have to carry the bulk of the financial load himself.

In several high-profile fund-raising events, the campaign brought in such star power as President Obama, former President Bill Clinton and New Jersey rocker Jon Bon Jovi. But while he has raised far more than he did in the last election — which was nearly all self-funded — Corzine continues to write most of the checks to run a campaign that has already spent the $16.8 million it has raised.

Noah Addis/For The Star-LedgerRepublican gubernatorial candidate Chris Christie at a campaign event in North Wildwood.Sen. Raymond Lesniak (D-Union), a Corzine confidante and well-known fund-raiser, said the governor had hoped to raise $15 million out of a total campaign budget of about $45 million.

"It was obvious from the first fund-raiser we had at the Newark Club that he wasn’t going to be able to do that," he said.

Lesniak said Corzine had to contend with three key factors: the cost of last year’s presidential election, which ate up a lot of money from reliable fund-raising sources, the bad economy and new campaign finance restrictions Corzine toughened.

"From the get-go, everybody knew that it was going to be hard. It was unrealistic to think otherwise," said Lesniak, who disputed the notion Corzine’s own wealth might have dissuaded some from contributing to his effort.

Corzine’s record of self-financing for campaigns goes back to his first run for public office, when he won a U.S. Senate seat in 2000. That effort cost him $60 million of his own money.

Lesniak said despite his reluctance to finance his own campaign, there was never any doubt Corzine would spend big.

"I’m sure he regrets having to spend millions of dollars of his own. But I’m sure he also doesn’t regret it," Lesniak said.

The governor has been far outspending his opponents in a race in which he has been trailing and only recently narrowed the gap, according to several independent polls.

He has outspent Christie by better than three-to-one.

Christie, who must limit his entire campaign spending to $15.9 million to qualify for public funds, is restricted to giving his own campaign no more than $3,400 for the general election. And with $3.6 million in contributions, he’s actually tapped donors for three times more money than Corzine has.

The spending figures do not include money put into the race by outside groups. The Republican Governors Association is spending big on TV spots targeting Corzine. The Democratic Governors Association, which is also buying TV time, has been funding state Democratic organizations that could help get out the vote for Corzine in November.

Christie campaign manager Bill Stepien, in a statement, criticized the spending by Corzine.

"Another election year, another campaign spending spree with his Wall Street millions for Governor Corzine, as he tries to hide his failed record of high taxes, irresponsible spending and skyrocketing unemployment," Stepien said. "Jon Corzine’s millions may buy a lot of negative television ads, but it can’t buy our way out of having the highest tax burden in the country and the highest unemployment rate in 33 years."

Darcy, the Corzine spokesman, said the Christie campaign benefitted from millions of dollars in negative advertising underwritten by the Republican Governors Association, even before the primary.

"The fact is that New Jersey residents are seeing what the people of Morris County saw when they had the opportunity to fire Christie from his position as freeholder," Darcy said.

Alan Rosenthal, a public policy and political science professor at Rutgers University’s Eagleton Institute of Politics, said it took heavy spending in recent months for Corzine’s campaign to hammer Christie to the point where the challenger is perceived to be another muddied-up New Jersey politician.

"Now he looks like just one of the rest of them," Rosenthal said of Corzine’s onslaught. "You’ve got to have the money to spend to do that. You’ve got to have real skillful people spending big bucks. Money in this election is going to matter."

Ledger Live: Christie's governing philosophyLedger Live for Friday October 5th, 2009 - Ledger Live with Brian Donohue. On today's show: GOP candidate Chris Christie stopped by the Star-Ledger today to speak to the editorial board. Criticized for not having a specific plan, Christie fired back at the Ledger citing differences in governing philosophies with his Democratic opponent Jon Corzine instead.